Archive for April 6th, 2011

When I came across this three-minute video yesterday, about 8200 folks had viewed it. This morning, the number is just over 71,500. I’d love to see another three zeroes added by the end of the week. Take a look at what the Republicans are proposing. I’ve not yet analyzed it, but it sounds some of them are willing to head in the right direction.

Of course, the big question is — will the Democrats be willing to put America first, sit down with the grown-ups, denounce their Dear Leader’s plans to double the national debt, and participate in the hard decisions that must be made if our nation is to avoid bankruptcy in the next decade.

The Path to Prosperity: America’s two futures, visualized

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In other news…

Washington Post and CBS receiving money from Obamacare slush fund

Two mainstream news organizations are receiving hundreds of thousands of taxpayer dollars from Obamacare’s Early Retiree Reinsurance Program (ERRP) — a $5 billion grant program that’s doling out cash to companies, states and labor unions in what the Obama administration considers an effort to pay for health insurance for early retirees. The Washington Post Company raked in $573,217 in taxpayer subsidies and CBS Corporation secured $722,388 worth of Americans’ money.

“It is fine with me if they continue covering the ObamaCare debate,” said Rep. Marsha Blackburn, Republican of Tennessee, in an e-mail to The Daily Caller. “When NBC used to cover energy issues, they identified themselves as a subsidiary of General Electric. CBS and Washington Post just have to disclose that they are subsidiaries of the Obama Administration.”

Isn’t it great to know we serfs work hard so our tax dollars can be distributed to profitable corporations.

Repeal Of Form 1099 Expansion Heads to Obama

The U.S. Senate voted 87-12 today to repeal the much-criticized law dramatically expanding the volume of 1099 forms that businesses have to send their customers. Approved earlier by the House, the bill goes to President Obama, who has indicated he will sign it even though it amounts to a big cut in the subsidies of his 2010 health care overhaul.

The move is a victory for business interests, who had said the expansion–intended to help pay for last year’s health-care reform law–was too burdensome and costly.

Fed’s Low Interest Rates Crack Retirees’ Nest Eggs

Forrest Yeager, a 91-year-old resident of this seaside community, had been counting on his retirement savings to last until he died. The odds are moving against him.

With short-term bank CDs paying less than 1%, the World War II veteran expects his remaining $45,000 stash to yield just a few hundred dollars this year. So, he’s digging deeper into his principal to supplement his $1,500 monthly income from Social Security and a small pension.

“It hurts,” says Mr. Yeager, who estimates his bank savings will be depleted in about six years at his current rate of withdrawal. “I don’t even want to think about it.”

Mr. Yeager is among the legion of retirees who find themselves on the wrong end of the Federal Reserve’s epic attempt to rescue the economy with cheap money.